Current Affairs Quiz-September, 2020

Notes:
Leading Private sector bank of India, ICICI Bank has launched an exclusive programme for start-ups named ‘iStartup2.0’.
Under this programme, a Current Account can be created for new businesses that are up to ten years old seamlessly. The Bank has integrated its APIs with the website of the Ministry of Corporate Affairs (MCA) and the account number is obtained at the time of incorporation.

Notes:
Reliance Industries Limited (RIL) has become the first Indian company to surpass USD 200 billion in market capitalisation. The RIL had market capitalisation of Rs.15.3 trillion (USD 208 billion).
RIL is followed by Tata Consultancy Services (TCS) with market capitalization of Rs 8.75 trillion (USD 119 billion). RIL is the 40th most valuable firm globally.

Notes:
The Small Industries Development Bank of India (SIDBI) has signed a memorandum of understanding (MoU) with the Rajasthan government to develop the MSME ecosystem in the state.
This is the initiative of the Department of Industries, Rajasthan to provide financial and technical support to MSMEs in the state. The state has also amended the MSME Act to promote industries and exempt businesses from permissions and inspections for three years.

Notes:
India has been ranked at 105th position in the Economic Freedom Index 2020.
‘The Economic Freedom of the World: 2020 Annual Report’ has been released by Fraser Institute of Canada in collaboration with New Delhi based think tank “Centre For Civil Society”. As per the report, Hong Kong and Singapore have topped the index.

Notes:
The Union External Affairs Minister S Jaishankar represented India and co-chaired the ASEAN-India Ministerial Meeting.
The meeting was held in a virtual mode. The meeting was participated by Foreign Ministers of the 10 ASEAN Member countries and India. During the meeting, a new ASEAN-India Plan of Action (2021-2025) was adopted.

Notes:
According to the Asian Development Bank, Asia’s economy will contract for the first time since the early 1960s.
The bank had earlier projected that the GDP would grow by 0.1 per cent. Now, it is estimated that Asia’s GDP would decline by 0.7 per cent in 2020 and would increase to 7.7 per cent in 2021. It also highlighted that the GD in India would contract by 9% this year.

Notes:
The Horticulture Department of the Jammu and Kashmir has launched the Flagship programme ‘Backyard Horticulture’ under CAPEX scheme.
The programme aims to promote organic fruit production for home consumption. Under the programme, three fruit plants will be distributed among the farmers at 90% subsidy. It increases self-sustenance and also preserves environment.

Notes:
The Government of India has formed a committee for conducting a study on the origin and evolution of 12,000-year-old Indian culture.
The committee comprises of 16 members with K.N. Dikshit, the Chairman of Indian Archaeological Society as a prominent member. The ministry plans to use the report of the committee in textbooks for the purpose of educational research.

Notes:
Bharatiya Janata Party has organised a week-long Seva Saptah to celebrate the birthday of Prime Minister Narendra Modi.
Under this programme, several welfare activities were organised across the country. Several programmes related to cleanliness, distribution of sanitary pads and wheel chairs and other social service events are organized from 14th to 20th September.

Notes:
The Organization for Economic Co-operation and Development (OECD) has revised India’s growth projections to minus 10.2% for the current financial year.
This is due to extended lockdown in the country. The OECD released a report titled “Interim Economic Assessment Corona virus: Living with uncertainty”. As per the report, prolonged spread of the virus, high levels of poverty, and stricter confinement measures are the reasons for contraction of the Indian Economy.